Property sold at Calabasas Commerce Center

Robert D. Erickson and Marc Spellman of Lee & Associates sold an 18,370squarefoot building at the Calabasas Commerce Center for almost $4 million.

The property at 25135 Mureau Road was owned by Arden Realty. The buyer, Malcolm Abrams LLC, was represented by Told Partners.

With few comparable sales available due to the slowdown in real estate, it's been difficult for sellers to set prices and for potential buyers to assess prices.

"Commercial real estate transactions have decreased mostly because of the lack of financing and the uncertainty that is out there," Spellman said.

"This property was priced below replacement value, making it an excellent opportunity," Erickson said

Calabasas Commerce Center, a low-rise office campus off the Ventura Freeway, was developed in 1989 by Ahmanson Commercial Development.